Sprint Corp. (NYSE:S)‘s stock had its “sector perform” rating restated by investment analysts at RBC Capital Markets in a research report issued to clients and investors on Tuesday. They currently have a $6.00 price objective on the cell phone carrier’s stock, up from their previous price objective of $5.00. RBC Capital Markets’ target price points to a potential downside of 4.00% from the stock’s current price.
S has been the topic of several other reports. Barclays PLC boosted their target price on Sprint Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday. Citigroup Inc. boosted their target price on Sprint Corp. from $4.75 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada boosted their target price on Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Tuesday. FBR & Co boosted their target price on Sprint Corp. from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Argus restated a “hold” rating on shares of Sprint Corp. in a research note on Tuesday. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.14.
Shares of Sprint Corp. (NYSE:S) traded up 5.93% during trading on Tuesday, reaching $6.25. 86,876,818 shares of the company traded hands. The stock’s market cap is $24.83 billion. The stock’s 50 day moving average price is $4.42 and its 200-day moving average price is $3.63. Sprint Corp. has a 12 month low of $2.18 and a 12 month high of $6.28.
Other hedge funds and institutional investors have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. raised its position in shares of Sprint Corp. by 2.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 27,801 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 600 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Sprint Corp. during the first quarter valued at about $177,000. American Century Companies Inc. raised its position in shares of Sprint Corp. by 371.6% in the second quarter. American Century Companies Inc. now owns 55,172 shares of the cell phone carrier’s stock valued at $250,000 after buying an additional 43,473 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Sprint Corp. during the first quarter valued at about $205,000. Finally, M&T Bank Corp raised its position in shares of Sprint Corp. by 39.5% in the first quarter. M&T Bank Corp now owns 59,136 shares of the cell phone carrier’s stock valued at $206,000 after buying an additional 16,733 shares in the last quarter.
Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.
